Inflation Weighs on HP, Box

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Trade of the Day Wake-Up Watchlist

Good morning Wake-up Watchlisters! While you're sipping coffee you'll see stock futures fell on Wednesday. The latest price data confirmed inflation is still a problem in the euro region, and the Conference Board's monthly consumer confidence index showed a sudden drop in August. Overall, rising gas prices and lowered labor market sentiment were cited as primary factors.

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Here's a look at the top-moving stocks this morning.


HP is down 8.42% premarket after inflation and global market volatility hurt demand for consumer electronics last year and created excess inventory. It posted $13.2 billion in revenue, missing the estimate from analysts polled by Refinitiv of $13.37 billion.



PVH Corp. is up 3.07% premarket after the Calvin Klein parent turned in a strong financial report. PVH reported $1.98 in earnings per share on $2.21 billion in revenue, while analysts surveyed by Refinitiv forecast $1.76 per share and revenue at $2.19 billion.

While a handful of tech stocks have been massive needle movers for the economy in 2023, retail stocks like PVH have also had their moments. Last week our Head Trading Tactician Bryan Bottarelli closed a triple-digit winner on Abercrombie and Fitch in 1 trading day.

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Box, Inc. (NYSE: BOX)

Box is down 9.42% premarket after a mixed second-quarter report. Its revenue came in at $261 million, in line with Wall Street's estimates, according to Refinitiv. It also posted weak guidance on both lines for the current quarter and for full-year revenue.

Yesterday our Lead Technical Tactician Nate Bear broke down another software company he's looking to make a trade on.

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Ambarella, Inc. (Nasdaq: AMBA)

Ambarella is down 20.16% in premarket after the computer-vision chipmaker Ambarella beat estimates for its fiscal second quarter but gave a weak sales forecast going forward. For the current quarter ending Oct. 31, Ambarella expects sales of $50 million. Wall Street had called for revenue of $67.9 million in the fiscal quarter. In the same quarter last year, Ambarella posted sales of $83.1 million.


Gold investment numbers are soaring

As inflation continues to eat away at the dollar, over 100,000 investors are buying up gold at a price not seen in years. Gold has outpaced some of the world's best assets like stocks, bonds and real estate.

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Those are the biggest stock movers for today.

Happy trading!

The Wake-Up Watchlist Research Team

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